The assessment on grain sold to or deposited at Iowa-licensed grain dealers as part of the Iowa Grain Depositors and Sellers Indemnity Fund will continue for an additional year.
Barring any further claims made against the fund, the assessment is anticipated to cease on August 31st, 2025.
Due to claims made against the fund following grain facility failures in 2021 and 2022, the balance of the fund fell below the statutory threshold of 3-million dollars. By law, this required the Grain Indemnity Fund Board to reinstate the participation fees for grain dealers and warehouses as well as a one-fourth of a cent per bushel assessment.
The Grain Indemnity Fund was created by the Iowa Legislature in 1986 during the Farm Crisis to provide financial protection to farmers.
